■ Investment
Security first, India says
India on Wednesday said it welcomed investments from China, but New Delhi will give its go-ahead only after its security concerns are satisfied. Economic ties with China -- with whom India is slowly mending relations after a brief but bitter border conflict in 1962 -- "has shown a rapid increase," foreign ministry spokesman Navtej Sarna said in a statement. "While we welcome foreign investments and companies in India, this has to be in accordance with our relevant domestic laws and regulations, and taking into consideration our security concerns and assessments," Sarna said. Sarna's statement comes days after a report in the Times of India said New Delhi had decided not to allow Chinese companies to invest in or manage any Indian port due to "security concerns."
■ infrastructure
Airport under construction
Construction began yesterday in a predominantly Tibetan region of southwest China on what will become the world's second-highest airport, state media said. The Kangding airport, in the western part of Sichuan Province, will be located at 4,280m above sea level, the Xinhua news agency reported. That will make it second only to the airport of Qamdo in Tibet, where planes take off and land in an oxygen-poor environment 4,334m above sea level. With a budget of 960 million yuan (US$120 million), Kangding airport will begin service in 2008, according to the report.
■ Manufacturing
Hyosung acquires tire unit
South Korea's Hyosung Corp said yesterday it has agreed to acquire 100 percent of Goodyear Tire & Rubber Co's tire-cord-making unit in Utica, New York. In a statement, Hyosung said it will take over the unit this year and also later in the year plans to acquire additional tire-cord-manufacturing plants from Goodyear in Decatur, Alabama, Brazil and Luxembourg. Tire cord is the material, made of nylon or various industrial fibers, placed inside the tire for reinforcment. Hyosung, which manufactures a broad array of products including tire cords, carpets, plastic bottles and nylon, didn't provide the financial terms of the acquisition or a specific timeframe.
■ Electronics
iMacs get Core 2 Duo
Apple Computer Inc on Wednesday updated its iMac line with Intel Corp's latest microprocessors. The Intel Core 2 Duo processor is faster than the Intel chips previously used in the iMac and other Macintosh computers. Also on Wednesday, Apple unveiled a new version of its consumer desktop computer -- an iMac with a 24-inch (61cm) screen. With a 2.16-gigahertz chip, the high-end computer retails for US$1,999. Philip Schiller, Apple's senior vice president of worldwide product marketing, said that every iMac will now have the Core 2 Duo chips. The product upgrades come as Apple is looking to gain market share against its PC rivals that run Microsoft Corp's Windows operating system.
■ Electronics
HP in hot water
Hewlett-Packard Co's tactic to get personal phone records of board members without authorization is unethical and likely unlawful, experts said. In a filing on Wednesday with the Securities and Exchange Commission, the Palo Alto-based computer maker said it was not sure a consulting firm that obtained the records complied with laws protecting privacy.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
CHINA POLICY: At the seventh US-EU Dialogue on China, the two sides issued strong support for Taiwan and condemned China’s actions in the South China Sea The US and EU issued a joint statement on Wednesday supporting Taiwan’s international participation, notably omitting the “one China” policy in a departure from previous similar statements, following high-level talks on China and the Indo-Pacific region. The statement also urged China to show restraint in the Taiwan Strait. US Deputy Secretary of State Kurt Campbell and European External Action Service Secretary-General Stefano Sannino cochaired the seventh US-EU Dialogue on China and the sixth US-EU Indo-Pacific Consultations from Monday to Tuesday. Since the Indo-Pacific consultations were launched in 2021, references to the “one China” policy have appeared in every statement apart from the
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from